Common fair value measurement and disclosure requirements.

The International Accounting Standards Board and FASB issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards and U.S. Generally Accepted Accounting Principles.

The guidance, set out in IFRS 13 Fair Value Measurement, completes a major project of the boards' joint work to improve IFRSs and U.S. GAAP and to bring about their convergence. The requirements do not...